Navigation Links
Alder Biopharmaceuticals Receives $3.5 Million Milestone Payment from Bristol-Myers Squibb for Initiation of Phase 2 Clinical Trial of ALD518/BMS-945429 in Crohn's Disease
Date:8/27/2012

BOTHELL, Wash., Aug. 27, 2012 /PRNewswire/ -- Alder Biopharmaceuticals Inc. today announced it has received a $3.5 million milestone payment from Bristol-Myers Squibb for the initiation of a Phase 2 clinical trial of ALD518/BMS-945429, an investigational antibody therapeutic that blocks interleukin-6 (IL-6), in Crohn's disease.

The milestone payment is part of the collaboration between Alder and Bristol-Myers Squibb that was formed in 2009 for the development of ALD518/BMS-945429. Under the collaboration agreement, Alder granted to Bristol-Myers Squibb worldwide exclusive rights to develop and commercialize ALD518/BMS-945429 for all potential clinical uses, with the exception of cancer treatment and cancer supportive care, which are rights retained by Alder.

"We have long believed that ALD518/BMS-945429 would have potential in a large number of disease areas, and today we are excited to see Bristol-Myers Squibb advancing into another area of tremendous unmet need, Crohn's disease," said Randall Schatzman, Ph.D., president and chief executive officer of Alder Biopharmaceuticals. "We look forward to continuing with the clinical investigation in multiple areas through this partnership, including in the ongoing Phase 2b clinical trial in rheumatoid arthritis, as well as in cancer treatment and cancer supportive care on our own."

About Alder Biopharmaceuticals

Alder BioPharmaceuticals Inc. uniquely identifies, develops and manufactures novel antibody therapeutics to alleviate human suffering in cancer, pain, cardiovascular and autoimmune and inflammatory disease areas. The company's second therapeutic program, an investigational monoclonal antibody for migraine, ALD403, inhibits a well-validated molecule shown to trigger migraine attacks, calcitonin gene-related peptide (CGRP), and is now in clinical trials. ALD518 is Alder's investigational monoclonal antibody to the pro-inflammatory cytokine IL-6. Alder is developing ALD518 in Phase 2 clinical studies in multiple cancer-related conditions, while Bristol-Myers Squibb is investigating the asset (as BMS-945429) in a Phase 2b clinical study in rheumatoid arthritis and other autoimmune indications based on a 2009 partnership. Alder's management team combines decades of industry experience with a proven track record for identifying and developing novel antibody therapeutics and enabling partners through the out-licensing of its technologies. For more information, visit www.alderbio.com.

Media Contact:
Ian Stone or David Schull
Russo Partners
Tel: +1 619-528-2220
ian.stone@russopartnersllc.com
david.schull@russopartnersllc.com


'/>"/>
SOURCE Alder BioPharmaceuticals Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Alder BioPharmaceuticals Inc. Initiates Phase 1 Clinical Study of Antibody Therapeutic Candidate for Treatment of Migraine, ALD403
2. Keryx Biopharmaceuticals, Inc. To Host Conference Call on Second Quarter 2012 Financial Results
3. Inspiration Biopharmaceuticals Announces Clinical Hold of Clinical Trials Evaluating IB1001 for the Treatment and Prevention of Bleeding in Hemophilia B
4. Inspiration Biopharmaceuticals Reports Positive Interim Results from the Accur8 Phase 2/3 Study of OBI-1 in Acquired Hemophilia A at WFH 2012 World Congress
5. Keryx Biopharmaceuticals Announces Upcoming Poster Presentation of Zerenex™ (ferric citrate) at the 49th ERA-EDTA Congress
6. Keryx Biopharmaceuticals, Inc. Announces First Quarter 2012 Financial Results
7. Keryx Biopharmaceuticals, Inc. To Host Conference Call on First Quarter 2012 Financial Results
8. GeNO LLC Receives Four Additional Patents for Inhaled Nitric Oxide Delivery
9. Patient Advocate Foundation Receives Significant Support to Aid Non-Squamous Non-Small Cell Lung Cancer Patients through the Co-Pay Relief Program
10. UTHealth Receives FDA Approval To Market New Coronary Flow Reserve Quantification Software
11. Neusoft Positron Medical Systems Receives ISO Certification and CE Mark for their Attrius PET System
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2016)...  While Abbott,s announced purchase of St. Jude ... and stent business, healthcare research firm Kalorama Information ... into patient monitoring.  Kalorama said that patient monitoring ... with double-digit growth expected the next 5 years, ... Patient Monitoring . Abbott Laboratories agreed to ...
(Date:4/28/2016)... NEW YORK , April 28, 2016  The ... reached 275 million dollars, according to Kalorama Information and ... includes typing, immunoassays and nucleic acid testing.  The healthcare ... had made progress in developing blood collection stations and ... was made in Kalorama Information,s report, Blood ...
(Date:4/28/2016)... April 28, 2016 Oramed Pharmaceuticals Inc. ... pharmaceutical company focused on the development of oral drug delivery ... upcoming PIONEERS 2016 conference, presented by Joseph Gunnar ... New York . Nadav Kidron , ... conference. Presentation Details:   PIONEERS ...
Breaking Medicine Technology:
(Date:5/2/2016)... , ... May 02, 2016 , ... Dr. Philip Shindler, ... patients with same day treatments. In the past, many necessary dental treatments could require ... along with multiple anesthetic shots and extra chair time. Not only could this be ...
(Date:5/2/2016)... Naperville, Illinois (PRWEB) , ... May 02, 2016 , ... ... our modernized mail back service. MedPro now offers its mail back service for ... this offer; we are now able to provide service to all of the clients ...
(Date:5/2/2016)... NV (PRWEB) , ... May 02, 2016 , ... ... Pharmacy Times, has announced a new Specialty Pharmacy Patient Satisfaction Award that will ... based on the quarterly results from Zitter Health Insights’ Specialty Pharmacy Patient Satisfaction ...
(Date:5/2/2016)... ... , ... The 2016 World Ultimate & Guts Championship (WUGC) Mixed roster was announced in February ... The WUGC is being held in London, England this year from June 18-25. At the ... another gold in the women’s masters division, and a silver in the women’s division, so ...
(Date:5/2/2016)... ... 02, 2016 , ... Pregnancy Awareness Month offers a great time to get ... “If you are ready to have a baby, it’s best to get started before ... is your Personal Conception & Pregnancy Organizer, written for women who plan on becoming ...
Breaking Medicine News(10 mins):